RNC Capital Management LLC Cuts Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

RNC Capital Management LLC decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,933 shares of the asset manager’s stock after selling 236 shares during the quarter. RNC Capital Management LLC’s holdings in T. Rowe Price Group were worth $2,820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TROW. Iron Horse Wealth Management LLC boosted its position in T. Rowe Price Group by 47.6% during the fourth quarter. Iron Horse Wealth Management LLC now owns 341 shares of the asset manager’s stock valued at $39,000 after buying an additional 110 shares during the period. Adero Partners LLC bought a new position in T. Rowe Price Group in the fourth quarter worth about $439,000. Meritage Portfolio Management bought a new position in T. Rowe Price Group in the fourth quarter worth about $2,670,000. Confluence Wealth Services Inc. increased its stake in shares of T. Rowe Price Group by 10.7% during the fourth quarter. Confluence Wealth Services Inc. now owns 10,811 shares of the asset manager’s stock valued at $1,226,000 after purchasing an additional 1,043 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of T. Rowe Price Group by 20.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 189,446 shares of the asset manager’s stock valued at $21,912,000 after purchasing an additional 32,378 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now directly owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Trading Up 0.7 %

Shares of T. Rowe Price Group stock opened at $111.44 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $100.49 and a twelve month high of $125.81. The stock has a market capitalization of $24.76 billion, a P/E ratio of 12.19, a PEG ratio of 1.78 and a beta of 1.44. The business’s fifty day moving average price is $116.31 and its 200 day moving average price is $112.63.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. During the same period last year, the company earned $1.72 earnings per share. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.42 EPS for the current year.

Analysts Set New Price Targets

TROW has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Morgan Stanley lifted their price target on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft upped their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Barclays lowered their target price on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday. Finally, Evercore ISI upped their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $115.09.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.